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where it is logged if a company pays dividends.

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bubble285
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where it is logged if a company pays dividends.

Postby bubble285 » Wed, 26 Jun 2013 1:43 pm

Hi,

Sorry, I opened a thread related to my query but I am not allowed to continue the thread and when I want to respond I'm automatically back to the login page. Neither I may contact the moderator so I apologize for opening another thread.

In my previous thread mentioned that I'm a foreigner that I'm receiving a boycott by the directors of a Pte Ltd company in Singapore and my questions are:

- I think we are now going to issue dividends and directors refuse to answer me on this. The secretary of the company is also making an abuse of power on this and he omite to answer me.

For various reasons I do not want to mention I can not count on the services of a lawyer in Singapore and the police deny me his help. My embassy don't want to helps me by the moment and I record this in ACRA but they told me that I must to ask the police. So I'm in a black hole.

I would like to ask if the directors effected a dividend distribution and I don't receive my part, because I'm in europe, exist in Singapore any record or place where can be verified if they are issued dividends and how much?

They must to justify or record in any place that they (directors) have been paid my part? maybe in ACRA? IRAS?

Few days ago they have presented me the audited accounts. This is the only thing that they make inside the law. How long a company has to make dividend payments after filing audited accounts?

The dividends must be recorded in the filling of annual return? or dividend distribution can be make after this step / declaration? how many time they have to catch the dividends considering that they must to take out the retained utilities because there is other major shareholder that must be registered in the company soon.

I appreciate all help. Thanks.

Note if a moderator can read my thread this post can be linked to my last post if you think is better. Thanks.

katbh
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Postby katbh » Thu, 27 Jun 2013 8:43 am

Look at company returns to ACRA.

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Postby Strong Eagle » Thu, 27 Jun 2013 10:16 am

I do not know why you are unable to post to the original thread. Here it is.

ftopic95838.html

katbh is correct... annual returns and AGM meeting minutes must be filed with the ACRA... so eventually, you will be able to see financial statements and minutes of directors and shareholder resolutions.

But, it may take quite a long time before these documents will be filed.

If you are not receiving notification of meetings, and are not receiving the minutes of meetings held, they are in violation of the law. As a shareholder you are also entitled to annual reports which include financial statements.

I do not understand your question, "How long a company has to make dividend payments after filing audited accounts?". These two things are completely different. Audited statements are filed yearly. Dividend declarations are made at an AGM or EGM and the minutes must be distributed after the meeting.

But the dividends only need to be paid on the date that was declared that they should be paid. You could have a meeting on May 1, 2013 and declare that dividends will be paid on March 30, 2014.

If you have large sums of money at stake, then you really need to contact an attorney. If the sums are small, take it as tuition for a lesson learned. NEVER invest in private limited where someone else holds all the power, and especially in Asia, where f*cking over the minority shareholders seems to be a sport.


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